ST. PETERSBURG, RUSSIA / ACCESSWIRE / June 4, 2021 / Russian State Geological Holding Rosgeologiya and Universa Blockchain signed a cooperation agreement for development of platform-based solutions on the basis of blockchain technology, as well as in the purposes of tokenization and application of modern blockchain technologies by junior companies specializing in geological exploration. "Our company consistently pursues the policy of digital transformation by introducing advanced technological solutions enabling to improve operational efficiency of production processes, - said Sergey Gorkov, Chairman of the Board of RosGeo. We are going to apply the blockchain technology to automate the collection, processing and storage of the production information, to improve the quality of the analyzed "field" data and significantly reduce the time required to document the scopes of the work done. In addition, our plans include the development of a technological platform for tokenization of junior assets, opening a new market for investment into geological exploration with emphasis to implementation of application solutions based on smart contracts." In the framework of our cooperation with Universa Blockchain we will test the tokenization of the production processes, digitization of the mineral resource base, transport and logistics, and smart geological exploration contracts in the Holding subsidiaries. "It is a great honor for us to become a technology partner of RosGeo". Our platform enables to process large scopes of information ensuring high speed performance and business continuity, which is essential for implementation of blockchain technology at production facilities of this scale, said Alexander Borodich, the founder and managing partner of Universa Blockchain. - Our expert knowledge and experience in automation of quite complex business processes on the basis of smart contracts, including those in foreign markets, allow to quickly develop a fullfeatured, integrated technology platform for tokenization of geological assets, and to digitize the mining process, making it transparent and understandable to an investor into a junior company."
RosGeo is a Russian multi-disciplinary geological holding that carries out a full range of services related to geological exploration: from regional surveys to parametric drilling and monitoring of subsoil conditions. The holding company boasts a unique expertise, particularly in marine geology and shelf operations. A total of more than 1,000 fields and deposits have been discovered by the holding's companies, including major hydrocarbon and solid mineral deposits and fields. RosGeo is a fully state-owned company.